The crypto market staged a sharp rebound over the past 24 hours, pushing total market capitalization up 4.29% and triggering a massive wave of short liquidations. More than $468.5 million in bearish bets were wiped out as prices climbed across major assets. Dogecoin led the top 10 with a 9.10% jump, followed by Lido Staked Ether (+8.83%) and Ethereum (+8.75%), with ETH reclaiming the $2,000 level.

Bitcoin rose 4.76%, briefly touching $70,027 on Binance before settling near $68,647. According to Coinglass, 128,348 traders were liquidated in total, amounting to $575.59 million. Short sellers took the biggest hit, while BTC alone accounted for roughly 40% of total liquidations. The largest single liquidation — a $10.41 million BTC-USD order — occurred on Hyperliquid, underscoring how aggressively bearish positions were squeezed during the rally.